The fintech will operate in Panama, El Salvador, Guatemala, and Mexico, where it plans to become an ally of the region's underbanked population.
Brazilian neobank Nubank reached 90 million customers in Latin America and reported a surge in profits in Q3.
Amazon launched a credit card product in Brazil in an effort to compete with Mercado Libre and ramp up its fintech strategy in South America.
Transfeera, a banking-as-a-service provider in Brazil focusing on B2B transactions, raised $ 1.3 million this month in a series A round.
Toku raised $7 million to expand digital collection services in Latin America. The fintech will boost its current Mexico strategy.
Mounting cryptocurrency adoption in Latin America is drawing investment capital into the region, signifying that growing interest.
El objetivo con este producto es responder a los cambios en las necesidades de los consumidores, según explicó el presidente del banco...
Although many Latin American companies claim they have little exposure to FTX's digital token, a widespread loss of conviction in crypto poses a significant risk.
The resources from the new investment, according to the fintech's CEO, will be used to reinforce the team of engineers and invest in the development of new products.
The rise in interest rates has led to banks and fintechs cutting down on lending. For companies like Stori, that is an opportunity.